Streetbeat News

Earnings

CTS

CTS Corporation projects its 2024 sales to be between $530M-$570M, closely aligning with the estimated $550.358M. The company also forecasts its adjusted EPS to range from $2.10-$2.35, which is in line with the estimated $2.29.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 1:04 pm

PLTR

Palantir Technologies, Inc. (NYSE:PLTR) exceeded fourth-quarter revenue forecasts and met bottom-line expectations, marking its fourth consecutive quarter of GAAP profitability. Wedbush analyst Daniel Ives, impressed by Palantir's performance, maintained an Outperform rating and increased the price target from $25 to $30, indicating a 79.43% upside potential. Ives highlighted Palantir's significant commercial success, particularly in AI, noting a 70% growth in commercial business and a 44% increase in commercial customer count in Q4. Despite the volatility in the Government business segment, Ives is optimistic about Palantir's U.S. commercial business, projecting at least 40% growth in 2024 and potential S&P 500 inclusion.

Portfolio Pulse from Shanthi Rexaline

February 06, 2024 | 1:03 pm

CTS

CTS Corporation (NYSE:CTS) reported Q4 adjusted EPS of $0.47, surpassing the consensus estimate of $0.46, and sales of $124.69M, slightly above the estimate of $124.51M. However, these figures represent a decrease from the previous year, with earnings down 16.07% and sales down 12.36%.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 1:01 pm

DASH

Recent analyst ratings for DoorDash (NASDAQ:DASH) show a predominantly bullish outlook, with an average 12-month price target of $123.14, indicating a 22.32% increase from the previous target. The ratings reflect updates from analysts at firms like Needham, Roth MKM, Mizuho, BMO Capital, Jefferies, and Deutsche Bank, with actions ranging from maintaining to raising price targets. DoorDash's financial overview reveals a solid revenue growth rate of 27.22% as of September 30, 2023, but challenges in profitability and asset utilization are noted.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 1:00 pm

SYM

Symbotic Inc. (NASDAQ:SYM) reported mixed Q1 results with a smaller-than-expected loss per share but slightly missed revenue estimates. The company anticipates Q2 revenue between $400 million and $420 million and adjusted EBITDA between $12 million and $15 million. Following the report, Keybanc and Needham adjusted their price targets for SYM downwards, while maintaining positive ratings. SYM shares fell 1.7% to close at $49.60.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 12:50 pm

TM

Toyota Motor Corp (NYSE:TM) shares surged in premarket trading after reporting strong third-quarter and nine-month FY24 results. Sales revenue and vehicle sales volumes increased significantly, with notable growth in EV sales. The company also raised its FY24 revenue and operating profit outlook, despite reducing its total sales volume forecast due to lower expected sales in Japan.

Portfolio Pulse from Lekha Gupta

February 06, 2024 | 12:49 pm

HTZ

Hertz Global Holdings shares are trading lower following the announcement of worse-than-expected Q4 FY23 results.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 12:41 pm

JJSF

PLTR

QQQ

RMBS

SPY

U.S. stocks are expected to face another day of declines as the recent rally loses momentum, despite some positive tech earnings. Concerns about overbought levels and Federal Reserve's stance on interest rates have prompted caution. The S&P 500 and Dow Industrials retreated from record levels, with most sectors except healthcare experiencing declines. Analysts predict a potential pullback for the S&P 500, citing overbought conditions and negative divergence in market breadth. Premarket trading saw SPDR S&P 500 ETF Trust and Invesco QQQ ETF with minor adjustments. Several companies, including Rambus, Palantir Technologies, and J&J Snack Foods, moved significantly on earnings news.

Portfolio Pulse from Shanthi Rexaline

February 06, 2024 | 12:37 pm

MSGS

Madison Square Garden (MSGS) reported Q2 earnings of $0.59 per share, surpassing the $0.55 estimate, and sales of $326.90M, slightly above the $325.72M estimate. However, both earnings and sales saw a decrease compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 12:36 pm

EADSY

SPR

Spirit AeroSystems announced it will not issue guidance due to uncertainties around 737 Max production rate increases pending FAA approval and ongoing price negotiations with Airbus.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 12:36 pm